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Armenia Cuts Molybdenum Output, Boosts Copper In 2009

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  • Armenia Cuts Molybdenum Output, Boosts Copper In 2009

    ARMENIA CUTS MOLYBDENUM OUTPUT, BOOSTS COPPER IN 2009

    Interfax
    Feb 1 2010
    Russia

    Armenia reduced ferromolybdenum output 3.4% in 2009 to 5,144 tonnes,
    the National Statistics Service said.

    Molybdenum concentrate production fell 2.4% to 8,559 tonnes, however
    output grew 5.8% to 6,858 tonnes of converter copper and 23.9% to
    88,339 tonnes of copper concentrate. Zinc concentrate production fell
    6.4% to 6,989 tonnes.

    OJSC Pure Iron told Interfax that it reduced ferromolybdenum (68%-moly)
    5.7% to 2,764 tonnes and 53.3% to 16.4 billion dram (375.5 dram/$1
    on Feb. 1).

    Pure molybdenum (99.6% metal) output fell 47.4% to 3.3 billion dram.

    The company said output fell due to the drop in world prices for
    molybdenum and its alloys. The company, which is 51%-owned by Germany's
    Cronimet Mining, exports all of its output to Europe. It exported 2,874
    tonnes of ferromolybdenum, up 2%, in 2009. Exports in value fell 48%
    to 17.4 billion dram.
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